Ben Bernanke

Among other objectives, liquidity guidelines must take into account the risks that inadequate liquidity planning by major financial firms pose for the broader financial system, and they must ensure that these firms do not become excessively reliant on liquidity support from the central bank.

The moral was, in time of anarchy, tough leadership is the only solution - even though the collateral damage may be heartbreaking. Mrs. Thatcher's strident, take-no prisoners approach was in some ways repugnant, but it was surely necessary.

I can't think of another enterprise other than being a homeowner that can't have its debt restructured in bankruptcy. Corporations can but a homeowner can't? Now with securitization the homeowner can't go to the owner of the loan and work things out.